Glancy Prongay & Murray LLP
(“GPM”), an eminent legal heavyweight, has sounded the alarm bells for investors eyeing iLearningEngines, Inc. (“iLearningEngines” or the “Company”) turmoil. The watchdog is hot on the trail of potential infringements of federal securities statutes by the Company.
Should you find yourself reeling from losses in iLearningEngines or are itching to explore recovery avenues within the framework of federal securities laws, GPM beckons you to submit your contact details at their dedicated site. Alternatively, Charles H. Linehan, the point person at GPM, can be reached at 310-201-9150 or via email at shareholders@glancylaw.com.
The tempest hit when Hindenburg Research released a report on August 29, 2024, casting aspersions on iLearningEngine’s financial integrity. The bombshell revealed questionable discrepancies in revenue and expenditure, alleging the majority of it is merely a facade. Shockingly, the report highlighted a glaring disparity – while iLearningEngines boasted of an annual revenue run rate of $216 million in India, its subsidiary churned out a meager $853,471 for the latest fiscal year, painting a grim picture. Moreover, the report pointed out that the address stated on the Company’s website was a ghost town with no trace of its existence.
The aftermath was catastrophic – iLearningEngines stock plummeted by a staggering 59% during intraday trading on August 29, 2024, leaving investors gasping for breath.
Keep tabs on developments by following GPM on LinkedIn, Twitter, or Facebook.
Whistleblower Notice:
Insiders privy to confidential information on iLearningEngines are encouraged to step forward and cooperate with the ongoing probe or leverage the SEC Whistleblower Program. Under this initiative, whistleblowers divulging original information stand to gain rewards up to 30% of any successful securable recovery by the SEC. For more information, contact Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.
About GPM
GPM stands tall as a legal fortress shielding investors and consumers in the fray of securities litigations and other intricate class actions. Year after year, ISS Securities Class Action Services has extolled GPM’s prowess by consistently ranking it in its SCAS Top 50 Report. Noteworthy accolades adorn GPM’s mantle, with a top-five ranking in the number of securities class action settlements in 2018, and a top-six listing for total dollar size of settlements. The firm’s footprint spans four corners of the country, with nearly 40 battle-hardened attorneys who have clinched precedent-setting rulings and recovered billions for stakeholders across various litigations. GPM’s legal honchos have tackled a spectrum of corporate misdemeanors, spanning from financial misstatements to insider trading, FDA violations to DOJ investigations, and other guises of corporate malfeasance. Victories etched in GPM’s annals have garnered praise from names like The Wall Street Journal, The Financial Times, and other industry stalwarts.
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